I bought a condo at a HOA foreclosure. I don't want to pay the HOA fees anymore. What should I do?
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I don't quite understand. It sounds like the HOA foreclosed on them for not selling, and now you are trying to get the former owner to recompense you for the past due HOA fees. They already lost the house, and you bought it - subject to all the assessments, and liens on it (one of those being the HOA). If you didn't want to pay them, that is something you should have worked out before buying.
If you question is whether you will still have to pay HOA fees now that you are the owner - yes, of course. The house is still part of a HOA. It going to foreclosure doesn't change that.
You bought it. If you don't want it any more, put it up for sale. You can't just get your money back.
You need to read the agreements you signed very carefully. It is possible that they stipulated that you pay all back HOA fees without verbally stating that fact. And just put it somewhere in the stack of 40 documents to sign. And you just, like most of us, kept on signing and signing faster and faster.
If you signed document promising to pay, your chances of not paying are remote. Best to try to sell the place and get out of the situation if you can't afford to pay the back HOA fees.
HOA's represent a super lien. If you dont pay the HOA's, you are going to lose EVERYTHING. Now if you are trying to make a deal for the people who lost the property to buy it back at a premium, then go for it. But they are no longer in the picture and owe you nothing in terms of reversal of the deal. The were FORECLOSED. Now if you can get the bank to take it back, they are the closest to you in title.
If you got this property at an HOA sale, you probably got a pretty good deal. What's the problem?
Right now you're stuck, because you agreed to it in your closing papers. Unless a majority can come up with a legitimate reason, you're stuck, at least until you re-sell and move away.
welcome to texas with the best real estate laws money can buy.
two ways to get out of HOA fees - Die or sell the property. suggest you pretty it up and get a quality Realtor to move it fast.
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